BPCL stock down by 4% mainly due lower than expected dividend
State-run Bharat Petroleum Corporation Limited (BPCL) is one of the frontrunners for privatisation. So, it was expected that the company would offer a dividend more than Rs 50-60 per piece, but the company announced a second interim dividend of Rs 5 per share for the fiscal year 2021.
In an exchange filing, the company said, The Board of Directors has declared 2nd Interim Dividend of Rs 5 per equity share of face value Rs 10 each for the Financial Year 2020-21.â
Post this announcement, the stock of BPCL was trading low. At around 12.20 am, it was trading at Rs 432.60 per piece. It was down by around 4.40 per cent or 19.95 points at 12.30 am.